Terms Used In Indiana Code > Title 20 > Article 44 - Property Tax Levies; General Provisions

• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• fund: refers to a levy excess fund established under IC 20-40-10-2. See Indiana Code 20-44-3-1
• Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• levy excess: means that part of the property tax levy actually collected by a school corporation for taxes first due and payable during a particular calendar year that exceeds the school corporation's total levy, as approved by the department of local government finance under Indiana Code 20-44-3-2
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• Trustee: A person or institution holding and administering property in trust.
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5